Prince Advisor Unaware of Reported Jay Z Bid for Late Artist’s Unreleased Music

Contrary to reports, Jay Z is not looking to buy Prince’s music catalog for $40 million. A TMZ report claims that Hov was eager to “snap up all the unreleased music” he can get, which is reportedly still in the late musician’s vault at Paisley Park.

However, L. Londell McMillan, an advisor to the estate, told Billboard that he’s unaware of Jay Z’s bid to buy the Purple One’s unreleased music. The entertainment attorney also added that “there is no sale [of Prince’s music assets]” and there is no “discussions with anyone regarding a sale.” Prince’s music vault is reportedly worth $35 million.

The story alleges that Jay Z had a meeting with Prince's sister, Tyka Nelson and her husband, Maurice Phillips, in New York several weeks ago and made a $40 million offer for the singer-guitarist's unreleased music. Although it's unclear of what kind of agreement was established during this presumed meeting.

At this point, Jay's streaming service Tidal has the rights to stream Prince's music as part of an exclusive deal with the artist before his untimely death on April 21. In addition, Prince's greatest-hits collection Prince 4 Ever will be released on Nov. 22 via a licensing deal with Warner Bros. and NPG Records. A deluxe edition of Purple Rain is also being prepped for an early 2017 release.